Brick Apartment Building with 6
For Sale
$1,750,000
2062 77th Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size5,775 SF
Lot Size0.06 Acres
Price / SF$303.03
Days on Market138
Property Features for 2062 77th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bathroom 4, Bathroom 5, Bathroom 3, Bathroom 6, Bathroom 2
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Bensonhurst
Standard status
Active
Size
5,775 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
33000
Building Details
Year built
1924
Number of units
6
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
eXp Realty BKNY
(888) 276-0630
Listed By:
HaoHong Wang
(888) 276-0630
Added: Mar 29
Changed: Aug 12
Last Checked: Aug 13 at 10:06AM
MLS# 500068
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Brick apartment building on a 0.0631-acre lot with a total size of 5,775 SF. The building was built in 1924 and features a flat roof and hardwood flooring.
The property has six rentable apartments: five 2-bedroom units and one 1-bedroom unit. Public remarks indicate six rent destabilized units and that one unit is vacant. Each unit has its own separate boiler and furnace, providing independent heating control.
Interior features listed include refrigerators and stoves. The building is described as well-maintained with an appearance noted as very good. The property is positioned in Bensonhurst, Brooklyn, with access to public transportation options including nearby subway and bus lines, and shopping in the surrounding area.
The property has six rentable apartments: five 2-bedroom units and one 1-bedroom unit. Public remarks indicate six rent destabilized units and that one unit is vacant. Each unit has its own separate boiler and furnace, providing independent heating control.
Interior features listed include refrigerators and stoves. The building is described as well-maintained with an appearance noted as very good. The property is positioned in Bensonhurst, Brooklyn, with access to public transportation options including nearby subway and bus lines, and shopping in the surrounding area.
Key Highlights
- Six rentable apartments: five 2‑bedroom units and one 1‑bedroom unit
- One unit is vacant
- 6 rent destabilized units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$141,167
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,823,340
$2.8M
Cap Rate 7%
$2,016,671
$2.0M
Cap Rate 9%
$1,568,522
$1.6M
Market Conditions
NOI Build-Up for 5,775 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$266.8K $46.20/SF
− Vacancy
−$10.1K −$1.76/SF
EGI
$256.7K $44.44/SF
− OpEx
−$115.5K −$20.00/SF
NOI
$141.2K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,823,340
Cap Rate 7%
$2,016,671
Cap Rate 9%
$1,568,522
Alternative Uses
Best Use
Apartment 5plus
$2.02M
$1.76M – $2.35M
NOI $141,167 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,820 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick apartment building with six apartments, including one vacant unit, and individual heating equipment for each unit.
Where is this apartment building located?
The property is located at 2062 77th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Six rentable apartments: five 2‑bedroom units and one 1‑bedroom unit; One unit is vacant; 6 rent destabilized units
